Edap Tms SA (ADR) (Nasdaq:EDAP), the global leader in therapeutic ultrasound, today announced a multi-national strategic OEM partnership with Quanta System, a leading manufacturer of medical lasers for surgical and other applications. Under the agreement, Quanta will manufacture customized urological stone lasers to be sold under the EDAP brand. Additionally, EDAP will continue to distribute Holmium lasers in France and certain North African territories, pursuant to its exclusive agreement with Lumenis in those regions.
Marc Oczachowski, EDAP’s Chief Executive Officer, commented, “The addition of urological stone lasers to EDAP’s product portfolio will provide excellent synergy with our existing lithotripsy offering for the treatment of urinary stones. We are excited to partner with Quanta System, the world leader in development and manufacture of stone lasers to bring their cutting-edge technology to urologists and patients and drive incremental growth for our Company. This strategic partnership enables EDAP to offer a complete range of minimally invasive solutions from intracorporeal lithotripsy lasers to extracorporeal shockwave lithotripsy devices, covering the full scope of urinary tract stone indications.”
Oczachowski continued: “With our well-established, worldwide network of fully-owned subsidiaries, dedicated distributors and partners, we are well positioned to maximize our lithotripsy sales activity going forward.”
Paolo Salvadeo, Quanta System’s Chief Executive Officer, commented: “We are very happy to partner with EDAP as this new cooperation strengthens our position in the worldwide urology market, where Quanta already enjoys strong market share in laser lithotripsy. Our core solutions for urinary stones represent a real benchmark for the industry, and we are pleased to offer them to EDAP, a dynamic company that shares many similarities with Quanta, and to contribute to their continued success throughout the world.”
Shares of EDAP TMS S.A. closed yesterday at $3.61 . EDAP has a 1-year high of $6.05 and a 1-year low of $1.15. The stock’s 50-day moving average is $3.19 and it’s 200-day moving average is $2.08.
On the ratings front, EDAP has been the subject of a number of recent research reports. In a report issued on November 21, H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on EDAP, with a price target of $4.50, which represents a potential upside of 24.7% from where the stock is currently trading.
EDAP TMS SA develops, produces and markets minimally invasive medical devices, mainly for urological diseases. Its activity is organized in two divisions: HIFU and UDS.